It's not just that there has been no development of Cox's Bazaar and its beaches for tourism. There are plenty of other historical and cultural sites that could attract more mature tourists, as well as family-oriented tourists. We are all hard pressed to think of one site in Bangladesh that has proper insfrastructure, hotels, access, or security. As an example the tea gardens in Sylhet and the historical/religious sites in the could be a great attraction but what has been done? Even in Dhaka, those ugly malls that are on every street could be shopping destinations to compete with Bangkok or even the desi shopping in Calcutta but that is not the case.

ok we are off the cricket subject now but heck here are some of my viewpoints. (Based on personal experience of BD real estate (esp hotel development) situation). At the moment, BD has reached the stage where serious hotel and other infrastructure projects can be taken on and returns on investment will yield above resonable expectations. Also on a positive note when big time chains such as Marriott or Radisson come in they will be surprised to find JV partners willing to come in at 40/60 percent partnership deals. Now what is lacking is that unlike countries such as Sri Lanka or India we do not have:
a) business plan or a tourism strategy.
b) Our deshi businessmen need to be more refined and really understand what tourism and quality stuff means. Very few have that vision.
I am optimistic about future because a gem is a gem and the only thing it needs is a polish. Bangladesh is that gem.

on your second point oracle I think you are correct. Lot of these JV businessman certainly have the money and muscle to throw at projects, but they have a long way to go before they have credibility in the eyes of foreign investors. that may be unnecesary phobia on the part of foreigners, but I agree that many/most of them don't really have a vision nor do they know much about the business they are trying to start. the goals are always short term and development suffers as a result.

you mentioned hotels. a good friend and fellow Bangaldeshi is on the finance team that works on new hotel development projects for Hyatt International here in Chicago. While this may change in the future, I undertstand that he could not recommend a Hyatt project in BD because of a) Oracle's point #2 and b) the math did not add up. The math will surely add up someday, but it's going to take a lot of other related work by Bangladeshis.